Collin Company purchased machinery for P550,000 on August 30, 2020. It is estimated that it will have a useful life of 6 years and residual value of P50,000. Prepare the depreciation schedule using the double declining balance method. Acquisition cost Accumulated depreciation Net book value Year 2020 [A] [H] [O] Year 2021 [B] [1] [P] Year 2022 [C] [J] [Q] Year 2023 [D] [K] [R] Year 2024 [E] [L] [S] Year 2025 [F] [M] Year 2026 [G] [N] [U] 3 | Depreciation expense [W] [X] [Y] [Z] [AA] [BB] Double declining balance rate [CC]